New Zealand's Westpac bank commits second million-dollar blunder in just one month
27 Jun 2009, 1616 Hrs

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Melbourne, June 27 Just about a month after it had mistakenly put 10 million New Zealand dollars into the bank account of a couple from Rotorua instead of the requested 100,000 dollars overdraft, Westpac bank has committed yet another blunder by paying a customer 4.3 million dollars instead of 43,000 dollars.

Computer company Elite Business Systems, in Hamilton, received a Westpac fax on behalf of a client paying a bill.

However, the payment made was 4.3 million dollars rather than the expected 43,000 dollars.

"We were hopeful, almost had our tickets booked to fly out to Hong Kong," News.com.au quoted Elite Business Systems administration manager Graeme Richer as having told The Waikato Times newspaper.

Richer revealed that the bank later realised its mistake, and transferred the correct amount into the firm's account.

Westpac spokesman Craig Dowling said that the mistake occurred due to "a simple typing error".

"The most important thing was that the correct amount was transferred and that controls, including a verification process, were in place to ensure accuracy of such transactions," Dowling said.

The new blunder from the bank is shocking, especially, because police are already seeking the help of Chinese authorities to find the couple who have skipped New Zealand for Hong Kong, after getting extra money due to the last month's mistake.

Westpac said that most of the money had been recovered, but 3.8 million dollars were still outstanding. (ANI)

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